Tongwei and Longji lead the industry with revenue of 74.068 billion yuan and 64.652 billion yuan respectively. Jingke Energy also broke through the 50 billion yuan mark in the first half of this year.

recently, A- share photovoltaic enterprises in the first half of 2023 performance all released.

from the perspective of head enterprises, the top 10 companies in terms of operating income in the first half of the year are Tongwei shares (600438.SH), Longji green energy (601012.SH), jingke energy (688223.SH), TBEA (600089.SH), trina solar energy (68859.SH), jingao technology (002459.SZ), TCL central (002129.SZ), sh472.S), sh60.

Tongwei and Longji lead the industry with revenues of 74.068 billion yuan and 64.652 billion yuan respectively. Jingke Energy also broke through the 50 billion yuan mark in the first half of this year, rising from fifth to third in the same period last year. In terms of net profit attributable to the parent, Tongwei ranked first with 13.2 billion yuan, Longji ranked second with 9.178 billion yuan, and TBEA ranked third with 7.467 billion yuan.

Overall, the total revenue of the top ten photovoltaic companies in the first half of the year was nearly 450 billion yuan, and the net profit attributable to the parent company exceeded 50 billion yuan, setting a new high.

in terms of revenue growth, the year-on-year growth rate of head photovoltaic enterprises is more than 10%, of which, sunshine power supply increased by 133, jingke energy increased by 60.5, TCL central revenue growth rate of 10.09. In terms of net profit growth, Jinko Energy, Sungrow Power, and Artes performed strongly, with net profit attributable to the parent company increasing more than three times in the first half of the year. The growth rate of Tongwei shares and TBEA was lower, at 8.56 percent and 8.17 percent, respectively.

From the perspective of the photovoltaic industry as a whole, the revenue and net profit of most listed companies are higher than those of the same period last year, and photovoltaic enterprises generally show a trend of rapid growth. According to Wanderer statistics, the total revenue of the 30 companies in the Wanderer Photovoltaic Index in the first half of 2023 reached 552.3 billion billion yuan, an increase of 30.35 percent over the same period last year, and the net profit attributable to the parent company reached 70.856 billion billion yuan, an increase of 42.89 percent over the same period last year.

According to flush data, the total revenue of 61 companies in the photovoltaic equipment sector of Shenwan industry in the first half of 2023 reached 580.3 billion yuan, an increase of 32.04 percent over the same period last year, and the net profit attributable to the parent reached 69.66 billion yuan, an increase of 41 percent over the same period last year.

The overall bright-eyed report card of photovoltaic enterprises cannot be separated from the strong demand for photovoltaic installed capacity. The above-mentioned listed companies mentioned in the semi-annual report that the performance growth is mainly due to these factors: the significant increase in shipments of silicon wafers and component products; the decline in upstream polysilicon prices is good for the decline in industry costs; the further improvement of advanced production capacity.

According to data from the National Energy Administration, domestic photovoltaic power generation installed 78.42GW in the first half of this year, an increase of 154 percent year-on-year, and it is close to the installed level for the whole of 2022. The output of polysilicon, silicon wafers, batteries and components increased by more than 60% year-on-year.

in addition, the China photovoltaic industry association has raised the forecast value of the new installed capacity in 2023. the global new installed capacity is expected to be raised from 280GW-330GW to 305GW-350GW. according to Solar Power Europe, the number of countries with GW-level installed capacity in the world will increase from 26 in 2022 to 32 in 2023.

However, Longji also mentioned in the 2023 semi-annual report that the photovoltaic industry has attracted a large number of new entrants and cross-border capital, superimposed on the expansion of the original enterprises, the industrial terminal demand is difficult to digest the new production capacity that has grown too fast in a short period of time, the new and old production capacity will accelerate iteration, and the whole industry will soon enter the knockout stage.

Some brokerage analysts believe that the short-term domestic market demand for photovoltaic installed capacity is relatively strong in the future, but after two years of substantial expansion, investors are worried about the industry's overcapacity expectations.